Global Daily Fantasy Sports Inc. acquires Mondogoal, a leader in daily fantasy sports
Global Daily Fantasy Sports Inc, is pleased to announce that it has closed the purchase of Mondogoal Limited’s (“Mondogoal”) operating assets consisting of intellectual property, trademarks and client contracts (the ‘Purchased Assets’) for its Daily Fantasy Sports B2B operations in Italy.
Mondogoal is currently the largest B2B daily fantasy sports network in Italy. Mondogoal’s blue chip client base includes Lottomatica Scommesse S.r.l. (Lottomatica) and Sisal Entertainment S.p.a. (Sisal) two of the largest gaming brands in Italy. Global is also pleased to announce as part of the transaction it has secured new agreements with both Italian operators for an additional two-year term. These new agreements will strengthen Global’s distribution network, as both Lottomatica and Sisal in 2016 represented 14% of the Italian online sports betting market. Lottomatica is the market leader in the Italian gaming industry with a network of about 100.000 points of sale, distributing games and services through one of the world’s largest network of connections.
Through its parent company, International Game Technology PLC (IGT), has a presence in more than 100 countries. IGT is a publicly traded company on the New York Stock Exchange and the world’s leading provider of gaming solutions. IGT has significant global market share and a broad portfolio of technology, services, and content solutions.
Sisal has been in business more than 70 years and has more than 14 million customers in Italy. Sisal operates in the gaming and betting market with a full spectrum of products in retail and online channels. Sisal has a network of more than 45,000 points of sale.
“We are pleased to go on in our journey in the DFS segment together with Global – says Ignazio di Lauro, Sisal Head of Sportsbook -. Thanks to its innovative platform, FantaMister will benefit and strengthen its position in this market segment. The first year has been very challenging and, at the same time, important for us in order to understand customers’ needs and behavior. We believe to experience the arising of DFS in Italy and Sisal has to be ready to reach this opportunity. With Lottomatica, we built the largest DFS network in Italy and our objective is to keep growing together”.
The consideration for the Purchased Assets consists of a combination of cash on closing plus issuances of common shares of Global, calculated on an earn-out basis annually over the next three years.
“The acquisition of the Mondogoal operating assets and new agreements with Lottomatica and Sisal position us well to grow our business in one of our key European markets” states Darcy Krogh CEO of Global Daily Fantasy Sports. “Italy is one of the largest online gaming markets in Europe and one of the first to establish itself in the daily fantasy space. This is a strategic investment for Global and we look forward to working with Lottomatica and Sisal to build out a strong network in Italy with our innovative platform.”